The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
Genius Is Not the Excuse for Governance Failure: Case of FTX Trading Limited
Author(s): Ali Rehman (University of Central Asia, Kyrgyzstan)
Copyright: 2024
Pages: 27
EISBN13: 9798369352571
Purchase
View Sample PDF
Abstract
This chapter explores the evolving landscape of fraud in the cryptocurrency industry, emphasizing the vital role of corporate governance in addressing this challenge. Several companies are involved in crypto frauds schemes such as Ponzi schemes, rug pulls, pump and dump, and exit scams. This chapter studies FTX's dramatic downfall from a $32 billion valuation to bankruptcy and will illustrates the broader issues within the startup culture, such as enabling misconduct, lack of accountability, immature governance, and distorting trust of stakeholders. This study presents recommendations for combating cryptocurrency fraud and improving corporate governance, including strengthening regulations and promoting transparency. The chapter also suggests implementing a corporate governance maturity model (CGMM) to effectively combat fraud, outlining its potential benefits. This study can be beneficial to the regulators, policy setting bodies, and financial institutions where they can implement the CGMM and foster the environment of transparency and accountability.
Related Content
|
Maria Pressentin.
© 2020.
40 pages.
|
|
Shuchi Dawra, SANDHIR SHARMA.
© 2023.
11 pages.
|
|
S. Baranidharan, Julie Sunil, Sonal Devesh.
© 2024.
22 pages.
|
|
Michael Workman.
© 2010.
17 pages.
|
|
Onyekachi Wambu, Amanda Rodrigues Amorim Adegboye, Kumar Kotecha, Natasha Bonsu, Christine Locke.
© 2022.
27 pages.
|
|
|